CITIZENS' LIFE ASSURANCE COMPANY
ANNUAL MEETING.
SYDNEY, February 28. The annual meeting of the Citizens' Life Assurance Company was held to-day. The report showed that new assurances for £1,211,405 had been completed *n the ordinary branch, and that the funds at December 31 "amounted to £2,077,189, the increase for the year being £274,579 — the largest on record. Further savings had been effected in the working expenses of the ordinary branch, which was now being worked at a rate equal to 10 per cent, of the premiums. Almost 60 per cent, of the total assets was comprised in public securities.
The valuation report showed that the reserves had been further strengthened during the year, and that tlie reversionary bonus to policy-holders had been considerably increased. The total surplus was £60,247.
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Otago Witness, Issue 2817, 4 March 1908, Page 27
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129CITIZENS' LIFE ASSURANCE COMPANY Otago Witness, Issue 2817, 4 March 1908, Page 27
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